The earnings die landed once again, this time favorably for these two tech players: GoPro Inc (NASDAQ:GPRO) and Universal Display Corporation (NASDAQ:OLED).

Oppenheimer analyst Andrew Uerkwitz applauds these performances from a play-it-safe neutral perspective, encouraged that comebacks are in full-swing- but tentative as GoPro’s recovery is likely to last through the next year and a half, and Universal Display tackles short-term headwinds. (To watch Uerkwitz’s track record, click here)

Let’s dive in:

GoPro Is Establishing a Good Track Record Again

GoPro investors are busy throwing a party today following a second-quarter earnings release that saw beats across the board, with shares promptly skyrocketing 22% today.

Though Uerkwitz praises the company’s strides forward to swipe for a comeback to profitability, he remains deterred by the camera sector, reiterating a Perform rating on shares of GPRO without listing a price target.

Uerkwitz notes, “The company has made solid progress across its key strategic priorities: slashing costs and improving efficiency, pivoting to smartphone-centric consumer experience, more targeted marketing, more international growth, and dedicating advanced solutions to advanced users. We believe management’s much more pragmatic and rational approach to the market today bodes well for its ongoing transition and long-term survival. We expect GoPro to stay in its transitional state for the next 12-18 months […]”

For the second quarter, the action camera maker posted $296.5 million in revenue, outperforming consensus of $269.1 million and the analyst’s forecast of $272 million, as well as EPS of -$0.09, outperforming consensus of -$0.25 as well as the analyst’s estimate of -$0.23. Likewise, the management team’s set expectations for third quarter outlook also strode past consensus of $278.5 million, coming in at $300 million at the midpoint.

When looking at the action camera maker’s CEO who hopes consumers will look at his product as an “untethered lens for your smartphone,” the analyst comments, “Although GoPro has been vocal about cultivating a smartphone-centric camera experience this year, we expect the new positioning statement to help align the company’s resources to create a more innovative, user-friendly, and intuitive image capturing experience outside the phone.”

Overall, “While our bearish bias on the standalone camera market is unchanged, we see GoPro’s recent moves as meaningful and constructive steps to return to growth and profit,” contends Uerkwitz, glancing ahead with cautious optimism bubbling.

TipRanks analytics demonstrate GPRO as a Buy. Out of 4 analysts polled by TipRanks in the last 3 months, 1 is bullish on GoPro stock while 3 remain sidelined. With a loss potential of nearly 17%, the stock’s consensus target price stands at $8.50.

Surprise, Surprise: Universal Display Impresses Once Again

Universal Display certainly has left Uerkwitz shocked and excited, as the display panel maker continues to make steps towards carving out a place on the market leaderboard down the line.

For the second quarter, OLED reported $102.5 million in revenue, trouncing the Street’s projection calling for $85.3 million and the analyst’s forecast of $83.6 million, and $0.99 in EPS, coming in way ahead of the Street’s $0.73 as well as the analyst’s estimate of $0.71. Revenue saw a 59% year-over-year surge, thanks to material sales that grew 84% year-over-year.

Another win for OLED is that the management team has boosted its revenue outlook for the year once more, taking its former range of $260 to $280 million up roughly $20 million notches to $285 to $300 million. In reaction, the analyst has taken his 2017 revenue expectations from $270 million up to $294.2 million and EPS from $1.73 up to $2.11. Additionally, the analyst lifts his expectations for 2018, increasing revenue from $293 million to $328.2 million and EPS from $1.88 up to $2.47, anticipating a bigger revenue prospect at hand now that the company has indicated capacity additions are waiting in the wings.

Uerkwitz commends the strength of the quarterly print, especially considering how stellar last quarter’s earnings proved to be, asserting, “Very impressive results, given 1Q17’s strong beat. Management emphasized UDC’s focus on expanding production capacity to meet increasing demand. Guidance for 2017 was raised by $20M—now mid-point of annual guidance implies 2H revenue will be down 10% sequentially, likely due to product cycle, contractual volume discount, and irregular consumer buying patterns, according to management. While we’re bullish on OLED display’s future market position, we believe investors have not fully incorporated the potential near-term volatility in the stock given its highly concentrated customers.”

However, the analyst remains on the sidelines for now, explaining, “Given the lack of direct near-term relationship between announced OLED capacity growth and OLED material sales, and the way stock has performed in 2017 (up 111% vs. S&P 500’s 10%), we are concerned that investors’ expectation are too high and not enough downside risks have been sufficiently considered.”

Therefore, though on the heels of an “impressive” print, Uerkwitz maintains a Perform rating on the stock without suggesting a price target.

TipRanks analytics reveal OLED as a Buy. Based on 4 analysts polled by TipRanks in the last 3 months, 2 rate a Buy on Universal Display stock while 2 maintain a Hold. The 12-month average price target stands at $116.67, marking a nearly 2% downside from where the stock is currently trading.